Singapore-listed Retail REIT Frasers Centrepoint Trust (FCT) (SGX:J69U) has posted a DPU of 2.85 cents for its 3Q13. The DPU represents a growth of 9.6 percent as compared to the 2.60 cents distributed in the quarter from a year ago and is the highest ever paid by FCT for a financial quarter.
|Revenue from Causeway Point in Woodlands grew by 24 percent as compared to a year ago from higher rents.
The strong DPU numbers comes on the back of a 12.4 percent growth in gross revenue which reached a new-high of $39.97 million. The revenue growth was bolstered by higher contributions from Causeway Point and Northpoint. Revenue from Causeway Point grew 24.6 percent to $19.3 million while revenue for Northpoint grew 5.9 percent $12.4 million compared to the same period last year on rental growth and higher car park income.
Units of FCT traded in a tight range today to close at S$1.90 on the SGX.
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